Brexit uncertainty created pause in UK home borrowing in July

The UK’s mortgage sector was hit in July as a result of the European Union referendum with both the number and value of house purchase approvals falling month on month and year on year. The BBA figures show that house purchase approval numbers were 19% lower than in July 2015, though in the first seven months of 2016 they were some 2% higher than in the same period of 2015. The data also shows that remortgaging approvals were 6% higher than in July 2015 and in the first seven months of 2016 we...